Gold

Home > Other > Gold > Page 26
Gold Page 26

by Matthew Hart


  Cuzco, 27–31, 37, 38

  cyanide, 107–9, 137, 140, 146, 196

  cyanide and heavy metals leak, 196

  Daily Mail (London), 175

  Dakar, 188, 195, 204, 210

  Dalato camp, 204–7

  Dalian, 131

  Damseaux family, 220

  Danube River, 196

  Davidoff, Steven, 158

  Dean Ranch, 86

  debts:

  of European countries, 176, 185

  U.S. national, 62, 165–66

  deep mining, 3, 6–7

  see also Mponeng mine

  deflation, 55

  de Gaulle, Charles, 63–64

  Democrats, 66

  Dempster, Natalie, 160–62

  Deng Xiaoping, 126–27, 143

  Denver, Colo., 105, 110, 111

  Deutsche Bank, 169–70

  Diabougou, 212

  diamonds, 80, 209, 217

  Díaz, Bernal, 26

  Dingha Cissé, 188

  District Court for Massachusetts, U.S., 178

  divine right, 8

  Dodd-Frank Act, 225–26

  dollar, Canadian, 72

  dollar, Spanish (“pieces of eight”), 45

  dollar, U.S., 45, 53, 55, 57, 60–65, 118, 159, 168

  Bretton Woods and, 61–64

  floating considered for, 65

  foreign holdings of, 58, 62, 63, 65, 68–70, 72

  gold convertibility and, 50, 58, 60, 62, 63, 65, 69, 70, 72, 74, 75, 96

  gold prices and, 178

  value of, 60, 65, 69, 70, 72

  doubt, 181

  Dräger Oxyboks self-rescuer, 3–4

  Drake, Francis, 42

  Dubai, 4

  ducks, gold refining and, 119

  Durban taxi wars, 10

  Durba town, 228–29

  Economist, 165

  economy, 62, 227, 228

  European, 43

  global, 101

  gold standard and, 44, 54, 55, 60

  U.S., 71, 73, 74, 165–66

  Egypt, 187, 200, 201

  Eichengreen, Barry, 44, 55–56

  Eichmann, Adolf, 97

  Eisenhower, Dwight D., 71

  Elko, Nev., 107, 111, 112

  Eloff, Zahan, 6

  Ely, Nev., 87

  Emergency Banking Act (1933), 58

  empowerment, South African use of term, 11

  England, 46, 50

  privateers of, 41–42

  Entebbe, 215, 216

  “escalator” clause, 103

  Esterhuizen, Leon, 21

  ETFs, see exchange-traded funds

  eunuchs, 120

  Eureka County, Nev., 81, 83–87, 89

  euro, 165

  European banking regulators, 154, 159–63, 177

  European Central Bank, 179

  European Union, 71, 160, 203–4

  exchange rate, 46

  exchange-traded funds (ETFs), 154–58, 166–68, 176, 180–81

  structural effect of, 156, 157

  Executive Order 6102, 58–59

  Exxon Corporation, 105

  Falémé River, 202, 204, 205, 211, 212

  “fall of ground,” 3

  Fante people, 191

  farm exports, U.S., 50

  fear, 96, 97, 139, 176, 177, 227

  Federal Reserve, 55–56, 69, 70, 75, 175, 178

  Feng Tao, 116–18, 123, 148–50

  Financial Times, 178–79, 181n

  First World War of Africa, 217

  Five-Year Plan, Chinese, 130

  Fleming, Peter, 141

  Fleury, Jean, 41

  Florentine Codex, 26–27

  Florida Strait, 41

  fluxes, 91

  “fooling the rock,” 7

  Forbidden City, 120

  Fordham, John, 173

  Fortieth Parallel Survey, 80

  Fort Knox, Ky., 56, 65, 69

  forward selling, 113–14

  France, 45, 50, 63–64, 120, 175

  in Africa, 197, 203

  gold shortage in, 45–46

  gold standard in, 50, 58

  privateers of, 41–42

  fraud, 159, 178, 184

  Free State province, 15, 18

  free trade, 62

  Friedland, Robert “Toxic Bob,” 136–37, 144

  futures, 166

  G20, 160, 163

  Gaddafi, Muammar, 164

  Gambia River, 198, 200

  gangs, 8, 16, 171–75, 225

  garnets, 80

  Gastrow, Peter, 19–20

  Gcaba, Mandla, 10–11

  Geological College, 126

  geology, geologists, 77–93, 111

  in Africa, 195–200, 205–11, 226

  in China, 124–27, 132, 144

  George V, King of England, 57

  geothermal gradient, 5–6

  Germany, 49, 64, 72, 120, 175

  banks of, 169–70

  bonds of, 160

  in World War II, 61, 97–99

  Getty Oil, 105

  Ghana, 195

  Ghanian drillers, 206

  ghost miners, 8

  Gilmour, David, 100, 101

  global financial system, dollar’s role in, 65

  God, 8, 25–26

  gold:

  demand for, 45–46, 64, 154

  difficulties of dealing in, 171–75

  Inca, 29, 33, 36–40

  ornaments, 29, 33, 193

  sacred aura of, 8–9, 38, 227

  “sacred thirst” for, 23

  safe-haven function of, 180–81

  secrecy and, 153, 156–57, 164–66, 168–71, 175–80, 185, 203, 204

  as “sentiment indicator,” 96

  as shadow money, 75

  Spanish melting of, 38–39

  as stubborn element, 107

  as surprise, 90

  as universal money, 171

  uses of, 181, 185–86

  value of, 22, 36, 153, 154, 161, 185, 227

  Gold Acres mine, 84, 89, 91

  Gold Anti-Trust Action Committee (GATA), 177–78

  Gold Army, 126–27

  Gold Canyon, 79

  Gold Coast, 190, 195

  gold coins, 158, 159, 164, 175

  gold empires, African, 188–95, 199–200

  Ashanti, 189–95

  Golden Constant, The (Jastram), 185

  Golden Eagle (yacht), 182–83

  Gold Fields, 4, 21

  Goldline International, Inc., 158–59

  gold lords, 150–51

  gold mining:

  accidents in, 4, 196, 202, 217–18

  Barrick and, 102–14

  in China, 115–27, 129–52

  deep-sea, 228

  in gold empires, 190, 199

  of Incas, 29

  in Kibali, 215–29

  in Mali, 198, 200, 202, 203, 204

  in Romania, 196

  in Senegal, 196, 204–13

  in South Africa, 1–22, 102, 104

  Gold Mining History of Zhaoyuan with a Review of the Gold Industry in the P.R. [People’s Republic of] China (Gong Runtan and Zhu Fengsan), 121–22

  gold money, 42, 43, 46, 70

  invention of, 22–23, 155

  Nixon Shock and, 75

  Gold Platform, 147, 150

  gold prices, 2, 12, 13, 17, 46, 59, 64, 69, 72, 95–96, 182–85

  Barrick and, 105, 111–14, 163, 164–65

  Bernanke’s views on, 75

  bimetallism and, 45

  BIS exchange and, 176, 177–78

  Bretton Woods and, 64, 69

  bubble and, 158

  California rush and, 49

  China and, 126, 132, 134, 152

  Congo and, 218, 219, 221, 225, 226–27

  cooking of, 60

  fixing of, 169–71, 182

  futures and, 166

  gold trusts and, 103

  instability of, 156–60, 162–68

  invisible gold and, 90, 93

  Mansa Musa an
d, 200

  Mercur sale and, 106

  Munk’s interest in, 102

  Nixon Shock and, 75, 96

  power and, 8–9

  put options and, 165

  spot, 155, 168, 226

  Tasiast discovery and, 222

  theft and, 18–19, 21

  trading volumes and, 154

  West African finds and, 204, 206

  gold rushes, 2–3, 23, 93

  as adventure, 188

  in Africa, 204, 212, 216, 218, 228–29

  in California, 47–49, 79, 201

  in China, 133, 147, 150

  in Nevada, 79

  unequal effects of, 228–29

  gold scrap market, 173, 174

  goldsmith-bankers, 43

  Goldsmiths’ Hall, 175

  gold standard, 42–65, 68–75

  Bretton Woods system and, 61–64

  currency credibility and, 54–55

  operations of, 43–44

  reversal of fortunes and, 50–54

  withdrawal from, 57–58

  Goldstrike mine, 106–7, 109–12

  fast-closing tactical window and, 110

  increase in reserves of, 111–12

  miners needed by, 111–12

  Newmont compared with, 107

  traffic at, 142

  gold-to-silver price ratio, 45, 46

  gold trusts, 103, 104

  gold window, closing of, 65

  Golmud, 147

  Gong Runtan, 121–23

  Gora target, 206–8

  Gray, Thomas, ix

  Great Britain, 64, 120, 175

  Ashanti state and, 190–95

  Bretton Woods and, 61

  gold standard in, 49, 52, 57

  newspapers in, 69, 72, 173, 174, 175, 177

  silver money in, 44–45

  see also England; London; Scotland

  Great Depression, 44, 57, 60

  Great Zimbabwe, 187

  Greece, 176, 185

  greed, 27, 96

  “greenback,” 50

  Guardian, 69

  guilder, Dutch, 72

  Haggard, H. Rider, 187–88, 201

  Haldeman, H. R. (Bob), 67, 73

  Hall, Greg, 145

  Hangzhou, 125

  harquebus, 26

  Hawks (elite unit of the South African police), 16–19

  Hayes, “Dad,” 82

  heap leaching, 108–9, 155

  Heathrow airport, 172

  hedge funds, 159, 165, 184

  hedges, hedging, 96, 103, 118, 159, 227

  Heitt, Dean, 81, 110

  Hemingway, Ernest, 224

  Hemming, John, 29, 31, 35, 39

  Henan province, 148

  herders, 212

  Herodotus, 209

  Hill, Alan, 104–7, 109, 111, 112, 196

  hired guns, 9–16

  Ho Chi Minh Trail, 111

  Hodgson, Sir Frederick, 194

  Hohhot, 139

  Hoh Xil Lake, 147, 150

  Holland, 49–50, 58, 64, 72

  Homestake mine, 90

  Hong Kong, 181n

  Hong Kong and Shanghai Banking Corporation, 169

  Hoover, Herbert, 58

  horses, 25, 31, 32, 34–35, 36

  hotels, 99, 101, 102, 138

  in Africa, 197–200

  housing, 112, 229

  Howe, Reginald, 178

  HSBC Bank, 167, 169–70, 171

  Huáscar, 31

  Huayna Capac, 30–31

  Human Rights Watch, 220

  Hunan province, 146

  Hungarian Jews, 97–99, 103

  Huston, John, 92

  hypothecated gold, 180

  Iceland, 177

  Idaho, 80

  illegal miners, 8–22

  in China, 140, 144, 145, 147, 148, 150–51

  as illegal immigrants, 17

  police limitations and, 17–18

  time spent underground by, 8

  zama-zamas, 14–15, 19

  immigrants, illegal, 17

  Incas, 27–30

  armies of, 31–33, 36, 38, 39

  culture of, 28–29, 36–39

  roads of, 28, 30, 31, 36

  wars of succession of, 30–31

  Inchcape, Earl of, 101

  India, 19, 115, 197, 201

  Indian Ocean, 228

  inflation, 64–65, 67, 68, 75, 178

  Inner Mongolia, 130, 136–45, 228

  insect hills, sampling, 209

  Institute for Security Studies, South African, 18–19

  interest rates, 51, 54, 62, 113, 162, 226, 228

  International Monetary Fund (IMF), 62, 177

  International Peace Institute, 19–20

  international trade, 42–43, 45

  international trade fairs, 43

  Internet, 158

  investment, 19, 112, 114

  exchange-traded fund as, 154–57, 166–68, 180–81

  in gold trusts, 103

  hedging and, 96, 227

  invisible gold, 77–93

  iron oxide, 205

  iron sulfide, 208

  isotopes, decay of, 205

  Israel, 101

  Italy, 64

  Jacobz, Willie, 21

  Japan, 62, 64, 74, 120, 175

  in World War II, 121–22, 123

  Jastram, Roy, 185

  jewelry, 155, 162, 173, 176, 181, 192

  demand for, 154

  Jiang, X. D., 136–37, 142–46

  Jiang Qixu, 123

  Jiao Lai basin, 151

  Jinshan Gold Mines, 136

  Johnson, Lyndon, 73

  Jonah, Sam, 219, 220

  junior mining companies:

  predators attracted by, 221

  use of term, 220

  Kaisin, Jean, 197, 200

  Kasztner, Rezso, 97

  Kasztner’s Train (Porter), 97, 98–99

  Kasztner train, 97–99

  Kayes, 201–2

  Kédougou, 198–99

  Kédougou-Kéniéba Inlier, 198, 204

  Kennedy, John F., 66–67

  Kenya, 223

  Kibali, 215–29

  discovery of gold at, 217

  Moto and, 219–21

  Randgold and, 221–23, 225–26, 229

  Ugandan soldiers at, 217–18

  Kilo-Moto greenstone belt, 217, 219–21

  King Solomon’s Mines (Haggard), 187–88, 201

  Kinross Gold Corp., 224

  Kinshasa, 220

  Kiyosaki, Robert, 131

  Klosters, 101–2

  Kumasi, 191–94

  Land that Time Forgot, The (Burroughs), 187–88

  Lead, S. Dak., 90

  Lehman Brothers, collapse of, 2, 160, 162

  Lenin, V. I., 126

  Lesotho, 17

  Liaodong Peninsula, 131–32

  Liaoning province, 131–35

  Libya, 164

  licenses, 203, 206, 212

  Lima, 40

  limestone, 80–81, 83–87, 89

  Linglong, Mount, 122

  Linglong mine, 116–24

  China’s retaking of, 123

  Japan’s capture of, 121–22, 123

  legend about, 118

  Wei’s running of, 120

  liquidity, liquidity buffer, 154, 159, 160–63, 165, 173

  Livermore, Caroline, 88

  Livermore, John Sealy, 87–93, 95

  at Blue Star, 91–92

  at Newmont, 89, 92

  Roberts’s paper read by, 87, 90–91

  at Standard mine, 88, 89, 92

  Livermore, Mount, 88

  lode deposits, 85, 88, 89

  London, 45, 49, 50, 52, 57, 64, 69, 160–62, 169–75

  banks in, 153–54, 166–67, 169–71

  “Blackberry riots” in, 9

  bullion market in, 2, 153–54, 161, 163–64, 165, 170

  Claridge’s Hotel in, 99, 102

  gold crime in, 172–75

  gold price fixing in, 169�
��71, 182

  goldsmith-bankers in, 43

  Munk in, 99, 101, 102, 182–84

  London, University of, 119

  London Bullion Market Association (LBMA), 154, 161

  London Gold Fixing, 169–70

  London Gold Pool, 63–64

  London Good Delivery standards, 167, 171

  Lord’s Resistance Army, 216

  Lost World, The (Conan Doyle), 187–88

  Louisiana, 45–46

  Loulo deposits, 204

  Lovelock, Nev., 88

  Luk Fook Group, 181n

  Lundin, Lukas, 222, 223–24

  Lundin Petroleum AB, 223

  Lydia, 22

  Lynn window, 92

  Ma (Chinese farmer), 146–47, 150

  McAleenan, Colin, 129–35

  McAvoy, “Mad Mickey,” 172–74

  Machu Pichu, 28

  Maggie Creek Canyon, 85

  magnetite, 205

  magnetometers, 205

  Mako Hills, 198

  Malawi, 17

  Mali, 196–204, 211, 212, 216

  Soviet relations with, 201, 202, 203

  Mali Empire, 199–200

  Malinche, La, 26–27

  Malinke people, 200

  Mali syndicate, 203–4

  Manchu dynasty, 120

  Mandela, Nelson, 11

  Mandela, Zondwa, 11

  Manifest Destiny, 48

  Mansa Musa, 199, 200, 201

  manufacturers, 68, 74, 100

  man winders, 4–6

  Maoism, 147

  Maoling (or Cat Hill), 132

  Mao Zedong, 123, 124, 126

  maps, 194, 199, 201, 205

  margin calls, 181

  mark, German, 72

  Marshall, James, 47

  Massawa, 204

  Mauritania, 222, 224

  Mavor, Jim, 164–65

  merchants, 42–43, 68, 188–89

  Mercur mine, 104–6, 109

  mercury, 213

  mercury amalgamation, 146

  Mexican miners, 48

  Mexico, 26–27, 30, 42, 45, 162

  Mexico-Tenochtitlán, 26–27

  millionaires, Chinese, 138, 144

  min cai (village mining), 148

  miners, 111–14

  Barrick’s need for, 111–12

  in China, 115–16, 120, 121, 123, 139–49

  forward selling and, 113, 114

  illegal, see illegal miners

  at Kibali, 217, 218, 225

  in Soreto, 211

  mining, mines, see deep mining; gold mining; specific mines

  Minmetals Resources, 99–100

  Mirror (London), 174

  Mobutu Sese Seko, 217, 219

  Mocatta, Moses, 170

  money:

  gold, see gold money

  gold’s loss of formal relationship with, 168

  Incas and, 28, 36

  paper, 43–44, 46, 50, 59, 75, 166

  silver, 44–45, 49–50

  money supply, size of, 50

  Mongolia, see Inner Mongolia

  Mongols, 119–20, 139, 140

  Montenegro, 183

  Montezuma, 26–27

  Morgan, J. Pierpont, 51–54

  Morgan, Junius, 51, 52

  Morgan, Miles, 51

  Morgenthau, Henry, Jr., 60, 61

  Morila deposits, 204

  mortgages, 112

  mosques, 199, 200

  Moto Goldmines Limited, 219–23

  Mouctar, Thierno Mamadou, 209–10

 

‹ Prev